Why is it important to distinguish between unilateral and mutual mistakes?

Business

1 answer:

SVEN [57.7K]3 years ago

6 0

Answer:

The correct answer is because it determines which contracts could be voidable

Explanation:

A unilateral mistake is when just one party to a contract is mistaken as to the terms contained in a contract.

Commonly, the unilateral mistake does not make a contract void; The mutual mistake makes it.

You might be interested in

What is one TRUE statement about the stock exchange?

Travka [436]

Answer:

Explanation:

For every seller, there has to be a buyer. For every buyer, there has to be a seller.
The market determines the value put on a stock at least when the stock is on an exchange.
There are many parameters used to determine if a stock should be bought or sold.

3 0

3 years ago

While on a trip to South Africa, Elena was impressed with colorful woven outdoor placemats, floor mats, chair cushions, and umbr

iren2701 [21]

Answer:

Before starting her import business, Elena should try to gather relevant information from companies that import goods, and if possible information about companies that import African goods.

Explanation:

Elena might be right about American consumers liking African products, but if importing those goods is too difficult, or is subject to several trade barriers, or some other issues, then Elena might have to reconsider her idea. Sometimes no matter how good a business idea is, if it is impractical to carry out, then t is useless.

6 0

4 years ago

Which of the following are arguments in favor of active stabilization policy by the government? Check all that apply. a) Busines

lbvjy [14]

Answer:

D) Shifts in aggregate demand are often the result of waves of pessimism or optimism among consumers and businesses.

Explanation:

The Federal Reserve (FED) can respond to excessive pessimism among consumers and businesses by expanding the money supply and lowering interest rates. To deal with excessive optimism they can do the opposite, they can shrink the money supply and increase the interest rate.

4 0

3 years ago

after the federal reserve buys bonds, the interest rate changes and aggregate expenditures change, the following will most likel

PIT_PIT [208]

The next thing to occur would be B. the price level in the economy will rise and the money demand will decrease

<h3>What is Interest Rate? </h3>

This refers to the amount of money that is added to be paid back on the settlement of a loan.

Hence, we can see that after the federal reserve buys bonds, the interest rate changes and aggregate expenditures change, thus will cause the price level in the economy will rise and the money demand will decrease